• Zak Mir talks to Harry Baker, Chief Executive of Borders and Southern Petroleum PLC

  • Feb 21 2025
  • Durée: 10 min
  • Podcast

Zak Mir talks to Harry Baker, Chief Executive of Borders and Southern Petroleum PLC

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  • Résumé

  • Zak Mir talks to Harry Baker, CEO of Borders & Southern, after the London-based independent oil and gas company with assets offshore the Falkland Islands announced a fundraising campaign to raise approximately £1.86 million. They discuss the new “drill, baby drill” mantra in the market and Borders' strategy and outlook.

    Borders & Southern is an independent oil and gas exploration company based in the UK, primarily focused on the Falkland Islands. Recently, the company made headlines with its announcement of a fundraising initiative aimed at raising approximately £1.86 million. This move reflects the company's strategic approach to capitalizing on its assets and positioning itself in the market.

    Understanding the Fundraising Announcement

    During a recent discussion, Harry Baker, the CEO of Borders & Southern, elaborated on the reasons behind this fundraising effort. Historically, the company has raised two years’ worth of working capital, but in the last round of fundraising in October, they opted to raise only one year’s worth. Baker emphasized that the decision was made because the company’s share price at the time did not accurately reflect the potential internal and external catalysts that could drive the stock’s value upward.

    Funding for Future Opportunities

    The primary goal of the recent fundraising is to ensure that Borders & Southern is fully funded until the end of 2026. This financial cushion is crucial as the company seeks to engage in farm-out conversations regarding its significant discovery project. Baker expressed that being well-funded allows the company to negotiate from a position of strength, enabling them to pursue the right deals rather than settling for the first offer that comes along.
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